Tuesday, October 9, 2012

Major Chinese banks will skip World Bank and International Monetary Fund meetings this week in Japan, China's state media said, in apparent protest over a territorial dispute between the two countries.

China and Japan are locked in a festering row over East China Sea islands that has seen the two sides trade insults, touched off protests in China, and hurt Japanese firms doing business in the Chinese market.

-->

Four state-owned banks -- the Industrial and Commercial Bank of China, Bank of China, China Construction Bank and Agriculture Bank of China -- will not attend the meetings, Xinhua news agency reported late on Monday.